Trading
Reuters revenues up third successive quarter
LONDON – Global news and information provider Reuters has reported third-quarter revenues of £611 million, up 8% on the £566 million for the same period last year.
Inflation targeting on the way
Royal Bank of Canada’s London-based senior emerging markets strategist, Tania Kotsos (right), looks at the potential impact of Ben Bernanke replacing Alan Greenspan as Fed Governor
Sterling’s glass half full
Rabobank has gone against market sentiment by maintaining an optimistic stance on the sterling, with a belief that the British economy is more resilient than the market thinks.
Vietnam opens its doors to Travelex
HANOI – Forex specialist Travelex has signed a deal with a Vietnamese bank to enable overseas nationals to remit money to relatives at home.
India’s white collar revolution
Sanjeev Sanyal, senior economist at Deutsche Bank in Singapore, points to the educated middle class as being the driver of the economy’s dramatic transformation over the last decade
Reuters opens post-trade service
LONDON – Reuters this week moves into the post-trade market with the launch of Reuters Trade Notification System (RTNS).
Calyon picks rates as dollar driver
Calyon’s good run of form in the one-month and three-month year-to-date rankings has been driven by a view that the dollar’s weakness would not persist. The French bank argued that the US current account deficit would not continue to act as a drag on the…
Measuring US dollar and prospects
Thomas Lam Tai Loong, treasury economist at United Overseas Bank (UOB) in Singapore, outlines a way of predicting dollar movement through measuring growth in the US economy
Fraudulent FX sites uncovered
WASHINGTON, DC – The US Commodity Futures Trading Commission (CFTC) has filed yet another action against a party participating in fraudulent forex activity.
Refco’s demise offers risk and reward for competitors
NEW YORK – Refco’s woes are having wider implications for the forex market, with the suspension of the platform sending shockwaves through the industry.
First yuan IR swap for China
BEIJING – China took another step towards currency flexibility this month, with the first ever yuan-denominated interest rate swap receiving approval.
Mexican Peso: Activity in Mexican peso set to soar
MEXICO CITY – There is likely to be a surge in Mexican peso trading in the build-up to next year’s election, according to market participants.
Singapore sees record FX volumes
SINGAPORE – Forex trading activity in Singapore reached the highest levels in seven years in 2004, according to latest statistics from the Monetary Authority of Singapore.
FX volumes ‘up one fifth’ in past year
LONDON – A surge in active currency management has driven up FX volumes by 20% in the past year, according to London-based research firm ClientKnowledge.
Reserve Bank of India calls for more disclosure
MUMBAI – Governor of the Reserve Bank of India, Yaga Venugopal Reddy, wants to see more corporates disclose their FX and derivatives disclosure.
Sterling/yen aids Informa
Informa Global Markets’ top three placing in each of the five rankings is due to its accuracy in sterling and yen, said Pete Luxton, global markets adviser at Informa Global Markets in London.
Egypt on a roll
Mehmet Simsek, emerging market economist at Merrill Lynch in London, reviews the factors behind further real medium-term strengthening and future appreciation of the Egyptian pound
Panelists advise Bush on China
HONG KONG – Panelists were put in the shoes of Jon Snow, US Treasury secretary, in the lively session chaired by Ray McKenzie, head of FX at the Chicago Mercantile Exchange.
Hong Kong to up ante on CNY services
HONG KONG – Chief executive of Hong Kong, Donald Tsang, said the city will take steps to increase the depth of yuan banking services available.
Asian central banks increase reserve management sophistication
HONG KONG – Asian central banks who have typically been long dollar are evolving with their reserve management, according to Claudio Piron, currency strategist at JP Morgan.
Rouble set to surge as restrictions relaxed
MOSCOW – Russia is likely to see a surge in rouble trading as restrictions are relaxed, according to market players.
Using a long straddle for EUR-USD participation
Armin Mekelburg, currency strategist at HVB in Munich recommends a way to take advantage of the strong swings in the eurodollar